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And I have been proud to fulfill them and honored to invite them. Chairman Leahy. Additionally, as my last inquiry, in some of the testament this morning there has been an idea that, of training course, simply with all the numerous billions, trillions of bucks ready to invest, you should simply go someplace else.


Stenger. I would tell you that in this environment the capacity to increase capital for the things we are doing would certainly have-- it is difficult to do so in a way that would allow us as effectively and as promptly produce the things we have actually done. You can obtain money if you have actually got 50 percent down.


I can have borrowed fifty percent of that if I had the $12 million in money to put up. Every person understands that, yes, banks have cash to finance as long as you have obtained fifty percent of it in your pocket before you request for the other half. That is not just how service works nowadays.

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Senator Grassley. Legislator Grassley. I desire to confess that we only have anecdotal info, yet I would certainly such as to ask you to what extent you have to go or do go to make sure that the centers make sure that the investments do not create jobs for people here illegally.


Mr. Stenger. We have actually employed-- as I said, at the Top we had 550 construction workers on our project.


They are made up of 10, 15, 20, 30 employees. They are from our neighborhood areas. They are Vermonters. They are profiting directly from the investment. So we are a hands-on facility. I recognize the employees, I understand their families, and we have had the ability to use-- with these last 3 years of horrible economic chaos, we have actually been able to employ almost every building and construction employee in our region and the surrounding areas.

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citizens. They reside in the location. Their family members are there. They are purchased the communities, and they are all U.S. employees. Legislator Grassley. You do not need to use e-verify, however I would love to understand whether you do. Mr. Stenger. We do. Senator Grassley. You do.


Thank you. Mr. North, along the very same lines of the question I asked him, has your research study revealed instances other-- and I only offered one example, so I wish to confess that and be responsible concerning it-- of centers hiring undocumented people? Mr. North. That sort of data is really tough to obtain from USCIS, and I need to claim that what we do find out about most of the interior aspects of that firm as far as this program is worried connects to cases in which the team has actually claimed no to an application of some kind and after that the regional center or the private business owner has actually gone to the Administrative Appeals Office-- which becomes part of the agency-- and there we get records, we obtain a hearing officer informing us what is taking place in that specific situation.




This is a bad application." So there is a quantity of bad applications out there, yet only when that process obtains prior to an administrative law court do we see much in the way of information. Now, there was one case that you mentioned, and allow me simply clarify on that a bit.

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Mr - EB5 Regional Center Program. North. The dairy products ranch had actually claimed 17 workers, and they obtained into it, and the judge EB5 Regional Center Program found that 16 of them were illegals.


Okay. I am mosting likely to ask separate concerns of each of the three of you, however it handles this set problem. As I claimed in my opening declaration, I am concerned about the prospective technicality that permits financiers to withdraw their financial investment in local facilities after getting their permit.


Mr. Divine. I would certainly state that most of the investors, if you asked them what are their objectives, they would state, "I want to obtain a copyright, and I desire to keep it.


If I put my money in a resort growth-- Senator Grassley. Can I assume then that you are stating that there does not require to be any changes made in that regard? Mr. Divine. I do not believe so. Legislator Grassley. Okay. Allow me ask Mr. Stenger, is it usual for a capitalist in your experience to withdraw his/her financial investment instantly after getting a permit? Mr.

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Senator, no. Our programs require that the investor be spent for a minimum of 5 years and be paid back only if the company is in a placement to do so at the end of that time. We have the benefit of the capital to develop the company, obtain it running, make it effective, ensure that the work will be produced and preserved, and then just if the organization is successful will there be a leave technique for the investor.